QIAGEN: Firing on all cylinders
QIAGEN: (BUY, Fair Value EUR37 vs. EUR35 (+15%))Firing on all cylinders
Following Q2 results we integrate QIAstat-DX into our estimates, thereby boosting our top-line growth rate for 2019 and beyond, especially since comparison with the year-earlier period has eased for 2019 (effect from the divestment of veterinary testing included in CER growth). Significant operational progresses over the past two years are now bearing fruit in margins. Buy reiterated and FV increased to EUR37.
Qiagen is provider of Sample to Insight solutions to transform biological materials into valuable molecular insights. Co.'s sample technologies process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software interprets data. Automation solutions unite these together in molecular testing workflows. Co. provides these workflows to four classes: Molecular Diagnostics (human healthcare), Applied Testing (forensics, veterinary testing and food safety), Pharma (pharmaceutical and biotechnology companies) and Academia (life sciences research). Co. markets its products in more than 130 countries.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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